Amazon sinks cash into EV startup Rivian as part of Climate Pledge

Elva Mankin

Amazon delivery vans, courtesy of Rivian, coming soon.


Amazon

This past June, Amazon announced a $2 billion investment as its first step on the road toward becoming a net-zero carbon company by 2040. On Thursday, the online retail giant and technology company revealed the first group of companies that will benefit from the Climate Pledge Fund. Chief among them is electric vehicle startup Rivian.

Amazon didn’t disclose how much Rivian receives in the round of investment, but it said the Climate Pledge Fund “participated in Rivian’s latest investment round in July.” To be clear, this not a separate investment, but a clarification noting the most recent Amazon investment actually came from the Climate Pledge Fund. The monies will further develop and integrate Rivian’s “connected electric platform with Amazon’s last mile delivery network,” Amazon said.

Read More